Australia May Join Asian Bank
GV Z. Press Association—Copyright) CANBERRA, July 21. Australia is expected to join in negotiations to establish an Asian development bank.
The proposed bank would have a capital of 1000 million United States dollars to lend for development projects in member countries of the economic commission for Asia and the Far East. The Federal Treasurer, Mr H. E. Holt, said today he hoped soon to put to Cabinet the question of Australia joining negotiations to establish the bank. He said a three-man consultative committee had visited Canberra last week for talks on the scheme. The committee was appointed in March at the annual session of E.C.A.F.E. Mr Holt described last week’s talks as exploratory.
but Australian officials had been instructed to adopt a sympathetic and positive attitude. He did not expect a final decision on Australian participation in the scheme until negotiations reached a more advanced stage.
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Press, Volume CIV, Issue 30809, 22 July 1965, Page 17
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151Australia May Join Asian Bank Press, Volume CIV, Issue 30809, 22 July 1965, Page 17
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